Mara Delta Property: Getting a boost in Mauritius
The JSE’s only pure African real estate play has undergone a marked transformation since its listing
Investors may no longer be queuing up to take a bet on the African growth story. But not everyone has cut their losses and turned their backs on the continent. Bronwyn Corbett, who heads Mara Delta, the JSE’s first pure pan-African focused property counter, remains bullish on Africa’s growth prospects. "There’s still good money to be made in Africa," she says. "But it’s now more of an income than a capital growth play. Where else in the world can you get a US dollar-based dividend yield of 7% growing at 3%-6%/year?" For the 35-year-old chartered accountant Africa was never going to be a quick in and out. "We were always in it for the long haul. Too many investors entered Africa with a short-term view and promises of unrealistic returns. Those guys have been weeded out." Corbett concedes that the commodity price slump and currency issues that have dogged many African countries over the past 18 months have raised the risks, forcing developers, financiers, private equity and property f...
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